Life insurers boast robust business growth in 2015

Premium sales jumped 4% to $2 billion.

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to December 2015 (YTD 4Q2015).

Singapore’s life insurance sector achieved a total of almost $3 billion in weighted new business premiums for the whole of 2015, according to figures released today by the Life Insurance Association (LIA) Singapore.

Weighted annual premium sales jumped 7% to $2 billion, while weighted single premium sales rose 9% to $940.8 million.

“The life insurance industry saw healthy growth across all types of businesses and provided new protection cover totalling $101.2 billion compared to 2014, which represents a 14 per cent increase in new business sum assured," said Khoo Kah Siang, President of LIA Singapore.

Total annual premiums in-force for group insurance business rose by seven per cent compared with a year ago, amounting to $975 million.

Khoo highlighted that 2015 marked the first year of implementation for key Financial Advisory Industry Review (FAIR) initiatives, including compareFIRST, Direct Purchase Insurance (DPI) products and Balanced Scorecard for financial adviser representatives.

Direct Purchase Insurance products drew approximately $550,000 of weighted new premiums since it was launched on 7 April 2015. DPIs are regular premium plans offering protection benefits.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia